Short Interest in Ituran Location and Control Ltd. (NASDAQ:ITRN) Drops By 6.9%

Ituran Location and Control Ltd. (NASDAQ:ITRN) saw a significant decrease in short interest in December. As of December 15th, there was short interest totalling 36,400 shares, a decrease of 6.9% from the November 30th total of 39,100 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 66,200 shares, the short-interest ratio is presently 0.5 days.

Ituran Location and Control Stock Up 4.4 %

Shares of NASDAQ:ITRN opened at $31.15 on Wednesday. The firm has a market cap of $619.70 million, a price-to-earnings ratio of 11.93 and a beta of 1.17. Ituran Location and Control has a 12 month low of $24.12 and a 12 month high of $31.64. The company’s fifty day simple moving average is $28.99 and its 200 day simple moving average is $27.39.

Ituran Location and Control Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.01%. Ituran Location and Control’s dividend payout ratio (DPR) is 59.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC acquired a new position in Ituran Location and Control during the 3rd quarter worth approximately $767,000. Blue Trust Inc. boosted its holdings in Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 598 shares during the last quarter. BNP Paribas Financial Markets grew its position in Ituran Location and Control by 214.2% in the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 4,098 shares in the last quarter. Acadian Asset Management LLC increased its stake in Ituran Location and Control by 21.3% in the 2nd quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock valued at $11,884,000 after buying an additional 85,023 shares during the last quarter. Finally, Walleye Capital LLC lifted its position in Ituran Location and Control by 184.5% during the 3rd quarter. Walleye Capital LLC now owns 27,498 shares of the industrial products company’s stock worth $730,000 after buying an additional 17,834 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.